Read our TradesWiser review to see if we recommend this broker for trading. Just to clear doubts, this is a tradeswiser.com review.
Is TradesWiser Legit?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are infamous for scamming schemes.
So, TradesWiser is just another unregulated forex broker, which means the customers aren’t protected, and there is highly likely they will get away with your hard-earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does the scam work?
Usually, unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit. And they will try any conceivable method in order to make that happen. They will offer deals that sound too good to be true. Like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, they transfer clients to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It doesn’t matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back TradesWiser?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all, you need to keep the emails as proof that you have been requesting the money back from them but they don’t give it to you. Or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how they deceived you into depositing money for a non-regulated trading company. Mention also that they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact [email protected] but don’t let your broker know they you read this article or that you are contacting us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on where you live, you can search google to find the regulatory agency for Forex brokers in your country. After that you can prepare a letter or an email describing how they deceived you. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you don’t know where to start, reach us at [email protected] and we’ll help you with this step as well.
Make sure you leave reviews about TradesWiser in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites. See what other sites have posted reviews about TradesWiser, and describe shortly what happened. If you fallen victim, please leave a review and a comment on this site at the comment section. Also, when these people change their website, they tend to call the old clients. So, if they call you from a new website, mention it in the comment or let us know about it. That would be really appreciated by us by our users. Also, if you get phone calls from other companies, please put the name of these companies also in the comment. Or you can send them to us and we will expose them too.
TradesWiser Review Conclusions
Making the TradesWiser review was our pleasure, and we hope to save as many people from losing their hard-earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our TradesWiser review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade, please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Thank you I am so glad I checked on tradeswiser. I was going to deposit 380 Australian dollars but I won’t be now. Thanks heaps
They show a different site,(AussieBitcoin) which quickly changes to TRADESWISER.com site after you’ve completed intial personal details. Then you get transferred from 1 broker assistant to an a/c manager, who instructs you to get an
app from Playstore that accesses yr computer or mobile remotely. To make things even worse (ldentity THEFT)- they ask for yr Passport or Drivers Licence, a copy of the financial institution with Bank letterhead, yr name & transaction showing proof of deposit made. If that isn’t enough, they also request 2 current Utility a/c’s showing all yr personal details too. (NOW THEY HAVE IT ALL – to scam you in ways unimaginable)
I have been scammed too and my bank has shut down all my accounts and now by reading all these reviews I’m praying they haven’t got my money, Tradewiser has worked on me for 3 days .. so convincing. I’m doing more research now but won’t know till in the morning whether I’ve been saved by the banks… it’s going to be a long night.
Dear Diane,
I can understand your frustration and concern, however, after having checked the system, I can see that you have received your money back in full. USD 250 which was your initial investment and an additional USD 50, which was whatever profits you’ve made while trading on our platform.
Why do you feel the need to spread false accusations online, and call your bank your savior, even though you have received your money?
(5/5)
gives me a piece of mind will now go to bed thank you
latter
after trading i am thing very good response .Harry
Cannot withdraw. Accounts Manager Scott Huges locked my account. Cannot take money out. Big time scammers. Lost nearly 4000 dollars. Do not fall into the Nigerian scam. They pretend to be operating from London. London Police confirmed that they don’t exist at their address City Point.
(1/5)
Is this again webtrader or mobtrader? Tradeswiser.com ( .net) screwed me.. I cannot trust anyone.
Before I invest a bigger amount I checked and found out the below. Have even checked with London Police for an addresses check at City Point. Also they pretend to have an Australian business and an ABN 😁
These guys pretend to be from London but my credit card transactions went to Nigeria 🇳🇬
Scott Hughes
Senior Account Manager
support number: 61385934065
support: [email protected]
1 Ropemaker Street
EC2Y 9HT The
City of London
(1/5)
It’s a Scam from Africa
Do not fall into it.
Fraud — once you invest the money you can’t withdraw at your convenience. They will block it and you will lose all the money.
They will scam you by allowing you to withdraw a small amount.
(1/5)
Must read!!!!!
Trust your gut, do not invest here at TradesWiser.
I have been scammed $150,000 AUD.
Scam Company.
Confirmed by Binance, Banks, ScamWatcher and The Australian Government.
The Website is hosted by a person named Papo Maloon and is only 6 months old.
The 5 star reviews here are either fake, or the people writing them haven’t tried to withdraw yet.
The Binance links my money has been seen to have an overwhelming amount of money being sent there.
They use Binance and are UNREGULATED.
Run Away from this company.
If you invest money here and feel like you have been scammed, cut your losses and accept that it is gone.
DO NO PAY TAXES. This is their last move before contact ceases and your account disappers.
If they offer a ‘credit’, do not take it.
They will hold your money hostage in the credit until you pay it all off. They will take your payments and add them into your account balance, NOT off your credit.
They they will say they can’t move money out of your account balance onto the credit so you need to add EVEN MORE MONEY because of their mistake.
(1/5)
Basically everything here above are lies. They do not let you take your money out. The take your money and try to take more. I had USD 50000 which I tried to withdraw and they refused to give it to me, so now it is lost. They say that there are no fees or commissions, that is also one of the many lies they will tell you.
If you read any positive reviews about TradesWiser, then you are reading a lie. This is absolutely not a legit company, it is 100% a scam.
(1/5)
This is a scam!
They just straight up stole my money. First they are either really bad at their job or they are tricking ppl into putting money on trades that will lose. I clocked on to this and did my own trading and made money after a while instead. The problem was when I wanted to withdraw this money they keep on coming up with reasons to why I can’t take it out unless I deposit more money. I have now lost another 15k o top of what I already put in due to this.
If anyone writes a good comment anywhere about this organization be sure to know that it’s all lies and they are part of it.
(1/5)
I too have fallen victim to this SCAM
Simon Erickson account broker if you could call him that ….. forced me into borrowing @23% rate and when I refused to handover $20,000, (because I had a gut feeling & it’s a bloody high risk investment I wanted to make sure)
He then started to panic and called my phone 31 times harassing me and sent me rude emails and was very derogative not at all professional and I too am unable to withdraw my money out. they give you credit so that you feel obliged to handover your money !!
I even had an email from a “compliance manager” saying I had to pay the credit!!
I made a profit on the $ I deposited and it cost me $1000 to get a personal loan…, id like my money 💰 back…I’ll contact the regulatory agency for forex brokers in Australia and get them watched and held accountable
It’s been almost a month now and they are still calling me regularly demanding that I need to give them more money if I want them to release my money back to me.
(1/5)
Olivia works for these guys
Before worked for Allcryptmarkets
So they changed their name from Allcryptmarkets to Tradeswiser as still used their old company email.
Again same story as all the comments
Cost me 40,000 and missing out 80,000aud in profit as had to pay taxes multiple times and and when I did they add it to equity
Got tricked into being offered a gift to make up for their mistakes, was told taxes did not have to be paid and they are sorry they added them on then did not return my money before my wedding
the trip to Europe to see family was spoilt and to have a marriage registration as could not afford a wedding
came back to Australia and got abused by them again even personal comments and shouted at
I did the home work checked ASIC website, they had an Australian ABN
Took 3 weeks to go with them
Other characters in the where olive smith from Finance dept., Charlie Mugs and Victor Orlov claiming to be originally from the Ukraine but working in London
When I said I will report the to authorities Olivia said by all means
I had Victor Orlov as a manger broker from https://www.allcrypmarkets.com/ had taken $19,000 same story goes telling me he was form the Ukraine now this allcrypmarkets website
is down anyone knows his real name please pass ity on the other one was peter brooks i also put in a cyber crime report also did some home work my self so if there using TradesWiser then i can will contact them right now